socail security stimulus plan

[Reba]

Its my understanding that the source is part of the stimulus plan - the overall tax payers expenses. The SS money comes from taxes anyway- but you are right , How will it affect us 20-40 years down the road. My guess would be we wont actually know till its too late right ?

When you say tax payers expenses, do you mean Social Security, or FICA, or sales tax? Existing monies, or future collection?

 

[jillio]

Its my understanding that the source is part of the stimulus plan - the overall tax payers expenses. The SS money comes from taxes anyway- but you are right , How will it affect us 20-40 years down the road. My guess would be we wont actually know till its too late right ?

Things haven't improved much over the last 20 years for SS recipients. If we continue with the same procedures, we can be assured that it won't bet any better in the future.

 

[Reba]

Federal withholding does not go into the SS pot. SS taxes that are withheld do.

So the SS withholding will not be reduced, just the FICA portion, correct?

 

[jillio]

So the SS withholding will not be reduced, just the FICA portion, correct?

Correct. And aslo, keep in mind that the amount withheld from your check in SS tax is not the amount paid to the government. That amount is doubled, as the employer has to match it.

 

[Reba]

Correct. And aslo, keep in mind that the amount withheld from your check in SS tax is not the amount paid to the government. That amount is doubled, as the employer has to match it.

I'm an independent contractor, and Hubby is self-employed, so we both pay the full amount ourselves; there is no employer contribution for us.

 

[jillio]

I'm an independent contractor, and Hubby is self-employed, so we both pay the full amount ourselves; there is no employer contribution for us.

For the majority of America's workers, there is an employer contribution.

But that is a choice one makes when one decides to become self employed.

 

[radioman]

jillio - thanks for the very more precise portion of the paycheck taxes. To me the federal, state, fica,medicare, etc are all one big tax. It just a big chunk out of my earnings.

 

[Tousi]

Perhaps that is because you aren't having to make a decision between paying for your medication or purchasing food.

I didn't know it was singling only those people and I resent the implication in your statement.

 

[Reba]

For the majority of America's workers, there is an employer contribution.

Some stats:

"Among those employed, 16% are self-employed and 84% work for someone else. Close to one in three (30% of employed Americans) work for large corporations, and 28% work for small businesses. The remaining 39% of employed Americans work for medium-sized companies, for the government, in educational institutions, or in the non-profit sector, according to Pew Internet Project."

But that is a choice one makes when one decides to become self employed.

Is paying taxes a choice?

Personally, I preferred working for the interpreting agency but they closed up shop in this community. The only way I could continue working as a terp, especially at the college, was to go independent. It's a lot more headache and paperwork but it's better than quitting. :P

 

[jillio]

jillio - thanks for the very more precise portion of the paycheck taxes. To me the federal, state, fica,medicare, etc are all one big tax. It just a big chunk out of my earnings.

YW. And it is a big chunk out of your check. But the taxes serve different purposes. If you live in my area, you can add city taxes to that chuck.:P

 

[jillio]

I didn't know it was singling only those people and I resent the implication in your statement.

Sorry that you are resenting something, but there was no implication at all. Simply saying that one who does not need it would not see how $250.00 would be much help. Someone who does need it, however, would see that amount as helpful.

 

[jillio]

Some stats:

"Among those employed, 16% are self-employed and 84% work for someone else. Close to one in three (30% of employed Americans) work for large corporations, and 28% work for small businesses. The remaining 39% of employed Americans work for medium-sized companies, for the government, in educational institutions, or in the non-profit sector, according to Pew Internet Project."


Is paying taxes a choice?

Personally, I preferred working for the interpreting agency but they closed up shop in this community. The only way I could continue working as a terp, especially at the college, was to go independent. It's a lot more headache and paperwork but it's better than quitting. :P

Yeah, as I said, the majority of Americans work for an employer that makes a matching SS tax contribution.

Not being employed by a company that would match your social security contribution is a choice.

 

[Tousi]

Sorry that you are resenting something, but there was no implication at all. Simply saying that one who does not need it would not see how $250.00 would be much help. Someone who does need it, however, would see that amount as helpful.

Never at a loss for words, are you?

 

[jillio]

Never at a loss for words, are you?

Nope.

 

[radioman]

Nope.

my kind of a gal.

 

[Reba]

Sorry that you are resenting something, but there was no implication at all. Simply saying that one who does not need it would not see how $250.00 would be much help. Someone who does need it, however, would see that amount as helpful.

Rather presumptuous to assume that Tousi hasn't ever known hard times or loved ones who have.

I took away from his question about how to spend the $250 more of a statement that the $250 really wasn't significant enough to pull Americans out of the financial doldrums of recession.

The $250 is just bread and circuses. It's enough to appease hoi polloi but not enough to make a real change in the economic situation.

 

[Reba]

Yeah, as I said, the majority of Americans work for an employer that makes a matching SS tax contribution.

What many American workers don't realize is that the employer contribution effects which workers an employer decides to keep or lay off when times get hard.

Not being employed by a company that would match your social security contribution is a choice.

You're right. I could choose to be unemployed and let the deaf students fend for themselves at the college.

 

[radioman]

Rather presumptuous to assume that Tousi hasn't ever known hard times or loved ones who have.

I took away from his question about how to spend the $250 more of a statement that the $250 really wasn't significant enough to pull Americans out of the financial doldrums of recession.

The $250 is just bread and circuses. It's enough to appease hoi polloi but not enough to make a real change in the economic situation.

250 may not be much but like I said before , it will be better then nothing and IF all the 55 million SS spend it , then the end result is spending in the billiions.

For the working class reba - your withholding for federal , The SGI tables is being readjusted so a single worker can get up to $400 more take home pay. The equates to something like up to 40 dollars per month for the rest of the year. This might feel like small potatoes, but like the overall picture - the total spending is in the billions.

jillio - any thoughts on my opinion here ?

 

[jillio]

Rather presumptuous to assume that Tousi hasn't ever known hard times or loved ones who have.

I took away from his question about how to spend the $250 more of a statement that the $250 really wasn't significant enough to pull Americans out of the financial doldrums of recession.

The $250 is just bread and circuses. It's enough to appease hoi polloi but not enough to make a real change in the economic situation.

Wasn't an assumption at all. I suppose you failed to note the word "Perhaps" at the beginning of my statement.

Whether the cummulative amount is enough to make a change in the economic situation remains to be seen. And the purpose is to put in several facets of a plan that, together, result in a real change. None of them, in and of themselves, are expected to provide a remedy.

 

[Reba]

Wasn't an assumption at all. I suppose you failed to note the word "Perhaps" at the beginning of my statement.

No, I didn't miss it. I "noted" its placement precisely.

Original statement: "Perhaps that is because you aren't having to make a decision between paying for your medication or purchasing food."

"Perhaps" modified "that", which referred to Tousi's failure "to see how a one time payment of 250 dollars is gonna help." The rest of the statement, "because you aren't having to make a decision between paying for your medication or purchasing food" was not a "perhaps" at all but a declarative statement.

That is, "Perhaps your failure to see how a one time payment of 250 dollars is gonna help is because you aren't having to make a decision...."

The inference and dig was clear enough anyway.


Anyone who has taken Interpersonal Communications 101 knows not to use "you" statements if one doesn't want to flame the situation.

Whether the cummulative amount is enough to make a change in the economic situation remains to be seen. And the purpose is to put in several facets of a plan that, together, result in a real change. None of them, in and of themselves, are expected to provide a remedy.

"Little wheels spin and spin, big wheels turn 'round and 'round."